The rand was weaker in early trade on Wednesday ahead of retail sales data in South Africa and the United States which could provide markets with fresh direction.
At 0717 GMT, the rand traded at R18.25 against the dollar.
The dollar last traded around 0.1% stronger against a basket of major currencies.
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The rand jumped on Tuesday as softer-than-expected US consumer inflation data boosted expectations the Federal Reserve might be done with interest rate hikes.
Like other risk-sensitive currencies, the rand often takes its cues from global drivers such as US monetary policy.
Investors will look to US retail sales and producer price inflation data later on Wednesday for further clues as to the state of the economy.
“Given the mood, the market would surge on any softening in the data,” said Rand Merchant Bank analysts in a briefing.
Locally, Statistics South Africa will publish the country’s September retail sales data at 1100 GMT. Analysts polled by Reuters predict a 0.1% rise in retail sales year-on-year.
South Africa’s benchmark 2030 government bond was stronger in early deals, with the yield down 4 basis points to 10.195%.
